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If one buys 5 or so guns over 3 years is it worth it for the paperwork? I don't know as I've never looked into it and not something I considered before.
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You buy a ledger bound book, in it you list the date, make, cal/ga, serial number, who you bought from and then a who you sell it to if you do sell it or trade it. That's it so yes it's worth it to me and many other collectors. Go out of state to a shoot like the Southern see a gun buy it and give them a copy of your license. You have certainly taken this thread way off your original question